BUBS need SAMR to deliver cash flow positive and profitability. The 4C doesn't tell that story.
24 Months ago it was the purchase of Deloraine production facility at $38M which promised to guarantee SAMR. Failure.
Now it is the Beingmate Joint Venture at $15M, which is promising SAMR. This will not work either. Do people here know the history of Beingmate and Fonterra JV ? Of course not. You can Google it, but if you have to Google it then you don't understand what actually happened. Beingmate are going to do the same thing to BUBS.
The fact there was no progress update on SAMR in the 4C Statement yesterday should have been an immediate sign of Danger to an astute investor. It was all the usual smoke and mirrors about growth on previous qtr to mask the fact the silver bullet ( Beingmate ) is now in crisis management mode. Not a single mention in the 4C for the most business critical company outcome ? How blind are you faithfuls ?
If BUBS get SAMR they are set for the future. But BUBS aren't going to get SAMR.
The Management at BUBS have no idea what they are doing. The Deloraine investment made that very evident to those of us who understand this sector.
BUB Price at posting:
70.5¢ Sentiment: Sell Disclosure: Not Held
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